On March 31, 2025, the Ministry of Labor and Vocational Training (“MLVT”) issued a notification extending the deadline for renewing work permits and employment cards for foreign employees. Details are below.
- Extension of deadline: Due to delays in the submission of applications for the extension of work permits and employment cards for the year 2025, the MLVT has decided to extend the application period. The new deadline for submission is April 30, 2025.
- Online application: All applications for work permit s and employment cards must be submitted through the official MLVT website at www.fwcms.mlvt.gov.kh before the stated deadline.
- Legal consequences for non-compliance: Failure to renew work permits and employment cards by the deadline will be considered in violation of Chapter 16 of the Labor Law and Joint Prakas No. 498 dated July 31, 2023, and subject to fines, imprisonment, or both.
On January 14, 2025, Cambodia’s National Social Security Fund (“NSSF”), issued Notification No. 004/25 to announce that, starting February 1, 2025, it will begin conducting inspections of all entities and establishments throughout the country.
The purposes of the inspections are to enhance enforcement and strengthen the implementation of the Social Security Law, and to ensure that workers receive the proper benefits and the fund’s financial health is maintained.
If the NSSF finds that the owner or representative of an entity or establishment has not fulfilled the obligations to make declarations and pay contributions on time or report employees’ information correctly, or does not withdraw contributions in accordance with the provisions of the Social Security Law, legal action will be taken against them.
To further promote the use of Khmer riel (“KHR”) and move away from the dollarization of the Cambodian economy, the National Bank of Cambodia and the Ministry of Commerce issued an announcement on November 1, 2024 on the Opening of Khmer Riel Currency Bank Accounts for all Registered Businesses.
The announcement calls for banks and other financial institutions to facilitate the opening of KHR bank accounts for all legally registered businesses. This latest move by the government aims to reap benefits for the Cambodian economy.
Less reliance on foreign currencies will help to stabilize market prices, ensuring a more predictable economic environment and lowering the costs businesses face, making it cheaper for companies to operate in Cambodia. It will also help to protect Cambodia’s foreign reserves, create revenue through currency issuance, and strengthen its national identity and sovereignty.
